Seattle-based Screening firm uses SS&C's CreditScreener solution to meet SB-6413 requirements, other states to follow with similar legislation
WINDSOR, Conn., May 3, 2016 /CNW/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, today announced Moco, Inc. ("Moco") is leveraging SS&C's tenant screening platform to meet the requirements of recently passed Washington State Senate Bill 6413 ("SB6413"). SB6413 requires landlords in Washington State to declare whether or not they accept a comprehensive reusable (aka portable) tenant screening report.
Moco, a consumer reporting agency based in Seattle, Washington, leverages SS&C's PersonalScreener technology to deliver the industry's first truly comprehensive reusable tenant screening product under its MyScreeningReport.com® brand.
Under the traditional tenant screening model the landlord orders a tenant screening report from their tenant screening company. The tenant screening company returns the report to the landlord. Traditional tenant screening reports are not portable – meaning the tenant screening company cannot (for legal & contractual reasons) share reports prepared for one landlord with another. This places a significant burden on low income individuals who may pay multiple screening fees before finding a landlord who will accept them - only to find they lack sufficient funds for the deposit.
Paul Prudente, Vice President and General Manager Moco said, "By flipping the traditional model on its head – by allowing applicants to order reports on themselves and then to securely share their report with multiple landlords – SS&C and Moco are making a difference in the lives of low income applicants while providing a quality tenant screening solution for independent rental owners who often lack access to quality reports."
SS&C continues to achieve the industry standards for compliance and successfully maintains its EI3PA certification using the Payment Card Industry Data Security Standard (PCI-DSS) framework. The EI3PA certification is an annual assessment of an Experian reseller's ability to protect the information they purchase from Experian. This requires an evaluation of information security by an independent assessor, based on requirements provided by Experian.
"More than ever we are seeing the innovative use of technology having a significant impact in the business and legislative environment," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "Moco's leadership in portable tenant screening and investigation services is in line with SS&C's strategy of growth through customer partnerships and innovation. SS&C understands the challenges our firms face and work with our customers to bring these innovations to market through the Cloud."
About SS&C Technologies
SS&C is a global provider of investment and financial software-enabled services and software for the global financial services industry. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 10,000 financial services organizations, from the world's largest institutions to local firms, manage and account for their investments using SS&C's products and services. These clients manage an aggregate of over $44 trillion in assets.
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For further information: Patrick Pedonti, Chief Financial Officer, Tel: +1-860-298-4738, E-mail: InvestorRelations@sscinc.com, Justine Stone, Investor Relations, Tel: +1- 212-367-4705, E-mail: InvestorRelations@sscinc.com, or Media Contacts, Sarah Mason, Metia (UK), Tel. +44 (0)20 3100 3613, Email: firstname.lastname@example.org, Megan Griffin, BackBay Communications (US), Tel: +1-617-556-9982 ext.221, Email: email@example.com